Madoff Investor Walter Noel, Bouncing Back (In Style)?
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Generally speaking, one of the biggest issues for people hit with the recession is recalibrating their spending habits and tightening their belts so-to-speak. Sure most people’s holdings and 401k’s have plunged, but that’s easy to ignore, just don’t look at it. But what we are undoubtedly forced to confront is that Prada bag we want and can’t get, or that new flat screen tv, or in some more “social” cases that gala event we want to attend. Yes, resetting one’s social calendar is in many times necessary, in some just prudent.
Enter Walter Noel, who recently came under fire when his company Fairfield Greenwich Group lost $7.5 billion of his investors money in their faux fund that invested exclusively with Bernard Madoff. It’s unclear yet where Noel stands with respect to repercussions both legally and financially, but socially he seems to be bouncing back at least for the moment. A tipster writes:
I saw Walter Noel this past Tuesday at a black tie event wearing a James Bond-esque velvet dinner jacket.
Walter and his family have been fixtures on the socialite circuit for quite some time. His daughter Marisa Noel Brown has been out and about for a while and featured in many social publications. So the question is, what event did Water attend this past Tuesday and what was this confidence man thinking?
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December 19, 2008 3:46pm
gone. what a piece of…
The literary and self appropriated social(lite) Anthony Hadden Guest had it right last night, we go out for three reasons, because we’re bored, heaven is other people and then there’s all that candy…
So why would Walter want to miss out? Especially now?
December 23, 2008 2:45pm
Let him enjoy the New York nightlife while he can. If there’s any justice in the world, soon Noel will be wearing an orange jumpsuit, like his pal Madoff.
December 24, 2008 10:04pm
How much did Mich Jagger, Pierce Brosnan and Wally’s other neighbors on his island retreat of Mustique loose in the Madoff scandal
December 25, 2008 8:26pm
Nice to see he’s having a good time after destroying so many people.What a POS
December 27, 2008 12:04pm
if Walter’s clan had not been so overly eager to flaunt their “business success” and new wealth and trappings, perhaps people would be treating him more kindly now. People who did not like the bragging self promotion of the Noel clan may feel entitled to snicker upon finding out it was all phoney.
December 28, 2008 2:48am
I think of the people on Mustique. Big and small who’ve probably been ruined by Mr. Noel. Think of all of the people that he’s been chumming it up with - Basil, the bread man, Arne’s family, the Bronfmans, Anita and Brian, etc., etc. I hope he found these people to be too low on the social ladder to bother with their money.
December 28, 2008 8:17pm
Aalter Noel is the epitome of all that is wrong in the world, and, in my opinion, perhaps the most offensive person in the Madoff scandal. His entire organization was nothing but a scam. Feigning talents as a money management and due dilligence firm that did little else but jet set around the world and shamelessly promote himself and his family. If there is any justice they will lose every cent of their ill gotten wealth. Funny that Jim Vos of Aksia, who was not collecting 250 million a year in fees for funds at Madoff, was able to, in a single month, find Harry Markopolos’ 2005 letter to the SEC (”The world’s largets hedge fund is a fraud”), quantitatively verifythat the stratgey could not work, and determine the accounting frim used by Madoff was a fraud. Fairfield Greenwich, whose laughable website, outlines a due diligence process that clearly was not followed in any way shape or form. This elitist scum bag and his posse did nothing but systematically steal, and self promote themselves as some type of “holier than thou because we have money type of family.” I despise the Noel’s and everything they represent.
December 28, 2008 8:19pm
Walter Noel….not Aalter…sorry*
Does anyone remember that totally pompous bs spread about the fantastic, saintly Noel women a few years ago? I think it was in Vanity Fair? Anyway…not being *closelikethis* with anyone in that gene pool I can freely say that it was one of the most off-putting profiles I’ve ever read. They all came off as arrogant entitlement women when it’s pretty clear they don’t have any pretensions to any such social standing. I’ve never been overly interested in anyone in that family since reading that, but finding out they are basically the spawn of a white collar criminal gives me a merry holiday chuckle.
Found it! it’s right here on gofg. There should be a link to the actual article, in my opinion. It’s a masterpiece of boring.
January 1, 2009 9:57am
Anonymous of Dec. 28th, you said it perfectly. Unfortunately, these scumbag bastards are probably since the news broke, stuffing their personal stolen wealth into all kinds of offshore accounts, etc.
January 1, 2009 10:52am
cll from j1…unfortunatley for us “less fortunate” you are probably exactly right. With an empire spanning 4 continents, they are probably scrambling to stuff every dollar into a wide variety of illegitimate vehicles. With any luck, all the fame they sought, and bought, will prevent them from ever induldging in the spotlight they so desperately craved. I only hope they offended enough of the cognosenti that they are left nowhere to hide…wishful thinking, I know…
January 6, 2009 9:19pm
I think the only DD they performed was on the Swiss banks they sent their money to. The clients were totally duped and screwed by this “showman extraordinaire”. Warren Buffet was right , we just needed the tide to go out . Hope the Noels are left penniless by daddy’s lax DD.
January 7, 2009 9:56pm
Nothing makes me happier than to see this self-promoting, self-congratulatory, social-climbing bunch of Noels get its comeuppance. In contrast to the image they love to project, they are actually incredibly stupid, corrupt, and vile. They are really laughingstocks now!
February 11, 2009 9:53am
Everyone should go to the Fairfield Greenwich website and read through the pages and pages that describe the “due diligence” the firm purports to undertake on their client’s behalf. Given the fact that Walter Noel stole $7.5 billion, it actually reads as a comedy - at least for those fortunate enough not to have given Walter their life savings. The Noels chose to travel in the circles they did, and now we see them for their true worth, which is nothing but a bunch of pathetic jackals and thieves.
February 16, 2009 7:00pm
Why are social climbing and thievery so closely intertwined?
Take the Noels and “Sir” Allen Stanford, the latest Madoff wannabee. Perhaps we should have bred one of the Noels and Sir Allen and come up with the ultimate climbing thief.
Why is a spring morning in New York a lot like a Japanese acrobatic team? There’s always a little nip in the air.
October 28, 2009 2:27pm
People like walter noel and his entire family make me wish for a real life Punisher.